Exagen Inc. (NASDAQ:XGN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Exagen Inc. (NASDAQ:XGN) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $9.62.

A number of equities research analysts have commented on XGN shares. BTIG Research raised their target price on shares of Exagen from $8.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, August 5th. TD Cowen upped their price target on shares of Exagen from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Weiss Ratings reissued a “sell (e+)” rating on shares of Exagen in a research note on Friday, August 7th. B. Riley Financial initiated coverage on shares of Exagen in a research report on Friday, September 11th. They set a “buy” rating and a $12.00 price objective on the stock. Finally, Roth Capital started coverage on shares of Exagen in a research note on Wednesday, June 24th. They set a “buy” rating and a $8.00 target price on the stock.

Exagen Price Performance

NASDAQ XGN opened at $8.72 on Monday. The stock has a market capitalization of $211.29 million, a price-to-earnings ratio of -10.77 and a beta of 2.10. Exagen has a 1-year low of $2.59 and a 1-year high of $12.23. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.18 and a quick ratio of 3.18. The business’s fifty day moving average price is $6.82 and its 200-day moving average price is $4.81.

Exagen (NASDAQ:XGN) last posted its earnings results on Tuesday, August 4th. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.06. Exagen had a negative return on equity of 104.46% and a negative net margin of 26.61%.The company had revenue of $19.94 million for the quarter, compared to the consensus estimate of $17.80 million. On average, equities analysts predict that Exagen will post -0.69 earnings per share for the current year.

Institutional Trading of Exagen

Institutional investors have recently made changes to their positions in the business. Corient Private Wealth LP purchased a new stake in Exagen during the 2nd quarter valued at $52,000. R Squared Ltd boosted its stake in Exagen by 49.0% during the first quarter. R Squared Ltd now owns 27,107 shares of the company’s stock worth $81,000 after buying an additional 8,915 shares during the period. Bank of New York Mellon Corp bought a new position in Exagen during the second quarter valued at $97,000. Dimensional Fund Advisors LP increased its position in Exagen by 137.4% during the first quarter. Dimensional Fund Advisors LP now owns 62,571 shares of the company’s stock valued at $188,000 after acquiring an additional 36,213 shares during the last quarter. Finally, Perkins Capital Management Inc. raised its stake in shares of Exagen by 286.5% in the first quarter. Perkins Capital Management Inc. now owns 71,796 shares of the company’s stock valued at $215,000 after acquiring an additional 53,221 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About Exagen

Exagen Inc (NASDAQ:XGN) is a commercial-stage diagnostics company focused on autoimmune diseases. The company develops and provides blood-based testing services intended to help healthcare professionals diagnose, differentiate and manage systemic autoimmune conditions, particularly lupus and related rheumatic diseases.

Exagen’s flagship testing platform is AVISE, a panel-based diagnostic approach that combines multiple autoantibody and biomarker measurements. Its offerings include AVISE CTD, which supports the evaluation of connective tissue diseases, and AVISE Lupus, which is designed to help distinguish systemic lupus erythematosus from other autoimmune conditions.